Canadian Imperial Bank of Commerce (CM) Set to Announce Quarterly Earnings on Wednesday

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) is set to announce its earnings results before the market opens on Wednesday, May 23rd. Analysts expect the company to announce earnings of C$2.82 per share for the quarter.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, February 22nd. The company reported C$3.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.83 by C$0.35. Canadian Imperial Bank of Commerce had a return on equity of 18.90% and a net margin of 31.76%. The business had revenue of C$4.46 billion during the quarter, compared to analysts’ expectations of C$4.25 billion.

Shares of Canadian Imperial Bank of Commerce opened at C$116.30 on Tuesday, Marketbeat Ratings reports. Canadian Imperial Bank of Commerce has a fifty-two week low of C$103.84 and a fifty-two week high of C$124.37.

The company also recently announced a quarterly dividend, which was paid on Friday, April 27th. Investors of record on Wednesday, March 28th were paid a dividend of $1.33 per share. The ex-dividend date of this dividend was Tuesday, March 27th. This represents a $5.32 annualized dividend and a yield of 4.57%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.30.

Several research analysts recently weighed in on the company. Canaccord Genuity set a C$131.00 target price on Canadian Imperial Bank of Commerce in a research note on Friday, February 23rd. Royal Bank of Canada raised their target price on Canadian Imperial Bank of Commerce from C$138.00 to C$141.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. Barclays reduced their target price on Canadian Imperial Bank of Commerce from C$125.00 to C$124.00 in a report on Friday, February 16th. Eight Capital upped their target price on Canadian Imperial Bank of Commerce from C$134.00 to C$139.00 in a report on Friday, February 23rd. Finally, Scotiabank upped their target price on Canadian Imperial Bank of Commerce from C$134.00 to C$135.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$132.00.

In related news, Director Katharine Berghuis Stevenson bought 1,500 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of C$119.17 per share, with a total value of C$178,755.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Earnings History for Canadian Imperial Bank of Commerce (TSE:CM)

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